The Company, VONPENDE HOLDINGS P.L.C. (hereinafter referred to as the “Company”) hereby informs you that, having received all the applications submitted in relation to a competition which took place in 2021 for the privately owned land/plot in Egkomi area, situated next to Hilton Cyprus hotel (ex-Hilton Park), owned by the Company’s wholly owned subsidiary, has decided to freeze all the actions related to the development of the above-mentioned plot, due to the current geopolitical and financial situation.

The Company shall re-consider and evaluate the development of the above-mentioned plot at a later stage and revert with a new announcement.

The Company would like to thank everyone who participated in the competition in relation to the potential utilization of the above-mentioned plot by providing the Company with exploitation ideas, proposals, and architectural drawings and if becomes necessary, the Company shall directly contact the contestants.